Reliance Power Q1 net loss widens to Rs 296 crore

Its expenses rose to Rs 2,182.69 crore in the April-June period as against Rs 2,145.90 crore in the same period a year ago.

Reliance Power on Wednesday said its net loss widened to Rs 296.31 crore in the June quarter on the back of lower income and higher expenses.

It had clocked a net loss of Rs 160.79 crore during the year-ago quarter, the company said in a regulatory filing.

The Anil Ambani-led company's total income declined to Rs 1,958.72 crore in the first quarter of the current fiscal from Rs 2,144.97 crore in the year-ago period. Its expenses rose to Rs 2,182.69 crore in the April-June period as against Rs 2,145.90 crore in the same period a year ago.

"The board of directors of the parent company in its meeting on August 5, 2023 approved issuance of 7,59,77,000 equity shares of Rs 10 each at a premium of Rs 10 per equity share aggregating to Rs 151.95 crore to Reliance Commercial Finance Ltd...," the filing said. Shares of Reliance Power settled at Rs 18.25 apiece on the BSE, up 2.59 percent from its previous close.